Toby Hudson, who managed proprietary trading of derivatives tied to commercial-mortgage bonds in JPMorgan Chase & Co., has joined Saba Capital Management, Bloomberg reports. The move comes as assets of the hedge fund have reached $4.1 billion. In the new role, Hudson is based in New York and focuses on relative value trades. Previously, he was with Bear Stearns Cos. Saba Capital was started by former Deutsche Bank credit trader Boaz Weinstein.
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